Atlanta-based Oldcastle APG has broadened its Echelon brand with a line of full-depth veneer stone that delivers a distinctive aesthetic, increased durability, and reduced installation time.
|Aria Slim Stone texture and color range includes smooth Graphite and Limestone offerings.
“Aria Slim Stone is ideal for adding a unique touch of modern styling,” says Brand Manager Dave Jackson. “Designed with masons in mind, it is easy to install, endlessly versatile and features unmatched durability.”
The premium design of Aria Slim Stone offers flexibility for interior and exterior conditions, he adds, and features a unique, linear profile enabling application of the same veneer on both facades and in corners. Versatility and workability owe to the series’ sleek, exclusive 36-in. long veneer profile. The longer dimension addresses tight labor market considerations by reducing installation time, while a full 3 5/8-in. bed depth contributes to wall integrity.
Aria Slim Stone is available in Alabaster, Buff, Graphite and Limestone colors, and finishes from smooth to shot blast. With a range of textures and colors, the series complements mixed-material designs to deliver a timeless, contemporary look. —www.EchelonMasonry.com
EXIT FROM DISTRIBUTION BUSINESS HELPS REPLENISH CRH ACQUISITION CHEST
Two years after dispatching its Americas Distribution business in a $2.6 billion deal with Beacon Roofing Supply, CRH has penned an agreement to sell a parallel European franchise to private equity and asset management giant Blackstone for $1.8 billion. The Europe Distribution spans General Builders Merchants, which supplies bath, heating and plumbing products to professionals and homeowners through a network of local and regional brands across six countries in Western Europe.
“The transaction demonstrates the continued execution of [our] strategy of creating value for shareholders through active portfolio management, efficient allocation of capital, and a simpler, more focused Group,” says CRH Chief Executive Albert Manifold.
The divestment follows a strategic asset review during which CRH management considered all options to maximize shareholder value. Proceeds will be used for general corporate purposes, capital returns to shareholders through an ongoing share buyback program, and value-creating acquisitions. Where the latter are concerned, CRH demonstrated a capacity for rapid capital redeployment in the Americas Distribution deal: Months after reaching an agreement with Beacon Roofing, the producer outlined a $3.5 billion acquisition of Ash Grove Cement Co., which closed in August 2018.